v3.26.1
Marketable and Other Securities
3 Months Ended
Mar. 31, 2026
Marketable Securities [Abstract]  
Marketable and Other Securities Marketable and Other Securities
The following table summarizes the fair value of cash equivalents and marketable debt securities, which approximates cost:
Fair Value LevelMarch 31, 2026December 31, 2025
Cash and cash equivalents
Cash and time deposits$11,160 $10,884 
Available-for-sale debt securities
U.S. government and agencies2452 451 
Corporate debt23,794 3,317 
Sovereign debt2968 923 
Total available-for-sale debt securities – cash equivalents5,214 4,691 
Money market funds13,427 5,369 
Total cash and cash equivalents$19,800 $20,945 
Marketable debt securities
U.S. government and agencies2$631 $2,370 
Corporate debt and other23,480 3,796 
Mortgage and asset-backed2507 558 
Total available-for-sale debt securities – marketable securities$4,618 $6,724 
Restricted cash
Cash and cash equivalents $440 $357 
Money market funds13,822 2,981 
Total restricted cash$4,263 $3,339 
Available-for-sale debt securities included above with contractual maturities(a)
Due in one year or less$5,934 
Due between one and five years3,348 
Total available-for-sale debt securities with contractual maturities$9,282 
__________
(a)Excludes mortgage and asset-backed securities as these securities are not due at a single maturity date.

Proceeds from the sale of available-for-sale debt securities sold prior to maturity were $2.6 billion and $1.5 billion in the three months ended March 31, 2026 and 2025. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the three months ended March 31, 2026 and 2025. Cumulative unrealized losses on available-for-sale debt securities were insignificant at March 31, 2026 and December 31, 2025.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total shown in the condensed consolidated statements of cash flows:
March 31, 2026December 31, 2025
Cash and cash equivalents$19,800 $20,945 
Restricted cash included in Other current assets3,831 2,912 
Restricted cash included in Other assets431 426 
Total$24,063 $24,284